Centrus Energy Stock Price, News & Analysis

Centrus Energy reported Q3 2024 results with a net loss of $5.0 million on revenue of $57.7 million, compared to net income of $8.2 million on $51.3 million revenue in Q3 2023. The company secured $1.1 billion in new contingent commitments for LEU production deployment, bringing the year-to-date total to $2.0 billion. Centrus was selected by the DOE for HALEU production and deconversion contracts, with a potential ceiling of $2.7 billion. The company maintains a strong consolidated cash balance of $194.3 million and a substantial backlog of $3.8 billion extending to 2040.

Centrus Energy Corp. (NYSE American: LEU) has announced its upcoming third quarter earnings conference call, scheduled for October 29, 2024, at 8:30 a.m. ET. The company will release its Q3 2024 earnings report after market close on October 28. Shareholders and financial community members can access the webcast through the Investor Relations section of www.centrusenergy.com, with replay available until November 8, 2024.

Centrus Energy serves as a nuclear fuel and services provider for the nuclear power industry, having supplied over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. The company focuses on providing reliable nuclear fuel supply sources and advancing centrifuge technologies to restore domestic uranium enrichment capabilities.

Centrus Energy (NYSE American: LEU) has won an award from the U.S. Department of Energy to expand domestic production of High-Assay, Low-Enriched Uranium (HALEU). This fuel is important for next-generation nuclear reactor designs. The award, given to Centrus' subsidiary American Centrifuge Operating, (ACO), has a minimum contract value of $2 million and a maximum value of $2.7 billion over ten years for all awardees.

ACO will manufacture centrifuges and equipment in the United States, utilizing a domestic supply chain across 13 states. This award is part of a public-private partnership aimed at restoring American-owned uranium enrichment capabilities. Additionally, ACO was recently selected to deconvert HALEU from uranium hexafluoride to uranium oxide and/or uranium metal forms, a separate step in the nuclear fuel production process.

Centrus Energy's subsidiary, American Centrifuge Operating, (ACO), has been awarded a contract by the U.S. Department of Energy to support the deployment of technology and equipment for High-Assay, Low-Enriched Uranium (HALEU) deconversion. This process involves converting uranium hexafluoride (UF6) to uranium oxide or metal forms, a important step in nuclear fuel production. ACO is one of six awardees, with a minimum contract value of $2 million and a maximum value of $800 million for all awardees combined.

Centrus President and CEO Amir Vexler emphasized the importance of this award in building an advanced nuclear fuel supply chain and expanding the capabilities of their Ohio facility. As the only U.S.-owned, U.S.-technology enrichment company, Centrus aims to lead efforts in reclaiming America's nuclear fuel leadership.

Centrus Energy Corp. (NYSE American: LEU) has announced its participation in TD Cowen's 2024 Nuclear Fuel & Next Generation Virtual Roundtable on October 8, 2024. The company's management will engage in a fireside chat at 1:05 PM ET and host one-on-one investor meetings throughout the day.

A webcast of the fireside chat will be accessible on Centrus' Investor Relations Website. Interested parties can request invitations or schedule meetings with management through their TD Cowen representative. This event provides an opportunity for investors to gain insights into Centrus Energy's operations and future prospects in the nuclear fuel industry.

Centrus Energy held a briefing on Capitol Hill, advocating for the $3.4 billion federal investment in nuclear fuel production to prioritize American technology and workers. CEO Amir Vexler emphasized the importance of transitioning away from Russian nuclear fuel and restoring America's domestic supply chain for enriched uranium. The company, along with representatives from its nationwide supply chain, highlighted the potential of Centrus' American Centrifuge technology, manufactured in Oak Ridge, Tennessee, and operated in Piketon, Ohio.

Centrus is currently producing High-Assay, Low-Enriched Uranium (HALEU) under a Department of Energy contract and aims to expand its capacity for large-scale production of both HALEU and Low-Enriched Uranium (LEU). The company is competing for federal funding from the $3.4 billion allocation approved by Congress in the Inflation Reduction Act and the bipartisan government funding bill.

Centrus Energy (LEU) is hosting a Capitol Hill briefing on September 24, 2024, to discuss restoring large-scale American uranium enrichment capabilities. The event, titled 'Rebuilding America's Uranium Enrichment Capacity: Why it Matters, and How to Get It Done,' will feature CEO Amir Vexler and supply chain leaders. They will outline plans to expand the American Centrifuge Plant in Piketon, Ohio, to meet U.S. commercial and national security needs. The initiative requires a public-private partnership with federal investment and private capital. The briefing aims to update policymakers, industry, and media on efforts to regain America's position in uranium enrichment, addressing the displacement by Russia and China in the global market.

Centrus Energy Corp. (NYSE American: LEU) and Korea Hydro & Nuclear Power (KHNP) have entered into a contingent supply commitment to support the construction of new uranium enrichment capacity at Centrus' American Centrifuge Plant in Ohio. The commitment covers a decade of Low-Enriched Uranium (LEU) deliveries for Korea's nuclear reactors. Centrus has secured $1.8 billion in total contingent sales commitments, including KHNP and other customers.

These commitments are contingent on definitive agreements and Centrus securing necessary public and private investment. The agreement aims to re-establish large-scale, U.S.-owned uranium enrichment capability. Centrus is competing for federal funding under U.S. Department of Energy proposals, with Congress providing over $3.4 billion for LEU and HALEU production.

Centrus Energy Corp. (NYSE American: LEU) has announced its participation in three upcoming investor conferences in New York City this September:

• On September 5, CFO Kevin Harrill will attend the Jefferies 2024 Industrials Conference
• On September 11, President and CEO Amir Vexler and CFO Kevin Harrill will be at the 26th Annual H.C. Wainwright Global Investment Conference
• On September 12, Vexler and Harrill will participate in the Lake Street 8th Annual Best Ideas Growth Conference

At each event, Centrus management will host one-on-one investor meetings. Interested parties should contact their respective conference representatives to request an invitation or schedule a meeting.